Question

13343176 NIKE, Inc. Consolidated Statements of Income Year Ended May 31, 2014 2015 2013 $ 30.601 $ 16,534 14,067 3,213 6,679 9,892 27,799 15,353 12,446 3,031 5,735 8,766 25,313 14,279 11,034 2,745 5,051 7,796 (3) 28 33 103 (15) 3,256 (In millions, except per share data) Income from continuing operations: Revenues Cost of sales Gross profit Demand creation expense Operating overhead expense Total selling and administrative expense Interest expense (income), net (Notes 6, 7 and 8) Other (income) expense, net (Note 17) Income before income taxes Income tax expense (Note 9) NET INCOME FROM CONTINUING OPERATIONS NET INCOME FROM DISCONTINUED OPERATIONS NET INCOME Eamings per common share from continuing operations: Basic (Notes 1 and 12) Diluted (Notes 1 and 12) Eamings per common share from discontinued operations: Basic (Notes 1 and 12) Diluted (Notes 1 and 12) Dividends declared per common share (58) 4,205 932 3,273 3,544 851 2,693 805 2,451 21 $ 3,273 $ 2,693 $ 2,472 A 3.80 3.70 $ $ 3.05 $ 2.97 $ 2.74 2.68 $ A - $ 0.02 0.02 0.81 A A 1.08 $ 0.93 $ The accompanying Notes to the Consolidated Financial Statements are an integral part of this statement.

Nike, Inc., Problem

Financial Statement Analysis The financial statements for Nike, Inc., are presented in at the end of the text. The following additional information is available (in thousands):

Accounts receivable at May 31, 2013	$ 3,117
Inventories at May 31, 2013	3,484
Total assets at May 31, 2013	17,545
Stockholders' equity at May 31, 2013	11,081

Instructions

1. Determine the following measures for the fiscal years ended May 31, 2015, and May 31. (Round ratios and percentages to one decimal place.)
   1. Working capital
   2. Current ratio
   3. Quick ratio
   4. Accounts receivable turnover
   5. Number of days' sales in receivables
   6. Inventory turnover
   7. Number of days' sales in inventory
   8. Ratio of liabilities to stockholders' equity
   9. Asset turnover
   10. Return on total assets, assuming interest expense is $28 million for the year ending May 31, 2015, and $24 million for the year ending May 31, 2014

Answer 1